Harmony Biosciences (NASDAQ:HRMY) Upgraded at Wall Street Zen

Wall Street Zen upgraded shares of Harmony Biosciences (NASDAQ:HRMY) from a hold rating to a buy rating in a research report released on Saturday morning.

HRMY has been the subject of several other reports. Weiss Ratings upgraded Harmony Biosciences from a “hold (c-)” rating to a “hold (c)” rating in a research note on Tuesday, June 23rd. Needham & Company LLC raised their price target on Harmony Biosciences from $45.00 to $50.00 and gave the stock a “buy” rating in a research note on Tuesday, August 4th. Deutsche Bank Aktiengesellschaft restated a “hold” rating and issued a $39.00 price target on shares of Harmony Biosciences in a report on Wednesday, August 5th. HC Wainwright reiterated a “buy” rating and set a $55.00 price objective on shares of Harmony Biosciences in a report on Thursday, July 16th. Finally, UBS Group reiterated a “neutral” rating and set a $37.00 price objective on shares of Harmony Biosciences in a report on Wednesday, August 5th. One analyst has rated the stock with a Strong Buy rating, four have given a Buy rating, four have given a Hold rating and one has issued a Sell rating to the stock. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and a consensus price target of $45.50.

Harmony Biosciences Stock Up 1.5%

HRMY stock opened at $39.00 on Friday. The stock has a market capitalization of $2.27 billion, a P/E ratio of 12.66, a PEG ratio of 0.37 and a beta of 0.96. The company has a debt-to-equity ratio of 0.13, a quick ratio of 3.45 and a current ratio of 3.48. Harmony Biosciences has a one year low of $25.52 and a one year high of $40.87. The company has a 50 day moving average price of $35.34 and a two-hundred day moving average price of $32.61.

Harmony Biosciences (NASDAQ:HRMY) last issued its quarterly earnings results on Tuesday, August 4th. The company reported $1.28 earnings per share for the quarter, topping analysts’ consensus estimates of $0.96 by $0.32. Harmony Biosciences had a return on equity of 20.06% and a net margin of 18.88%.The company had revenue of $261.28 million for the quarter, compared to analyst estimates of $250.77 million. During the same quarter in the prior year, the company posted $0.92 EPS. The business’s revenue for the quarter was up 30.3% compared to the same quarter last year. As a group, sell-side analysts expect that Harmony Biosciences will post 3.62 EPS for the current year.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in HRMY. EverSource Wealth Advisors LLC grew its position in Harmony Biosciences by 589.9% during the fourth quarter. EverSource Wealth Advisors LLC now owns 752 shares of the company’s stock valued at $28,000 after acquiring an additional 643 shares during the period. Allworth Financial LP raised its holdings in shares of Harmony Biosciences by 286.7% in the 4th quarter. Allworth Financial LP now owns 812 shares of the company’s stock worth $30,000 after purchasing an additional 602 shares during the period. Leonteq Securities AG acquired a new position in shares of Harmony Biosciences in the 4th quarter valued at about $30,000. National Bank of Canada FI acquired a new position in shares of Harmony Biosciences in the 3rd quarter valued at about $40,000. Finally, Clearstead Advisors LLC grew its holdings in shares of Harmony Biosciences by 145.9% during the 4th quarter. Clearstead Advisors LLC now owns 1,178 shares of the company’s stock worth $44,000 after purchasing an additional 699 shares during the period. Institutional investors and hedge funds own 86.23% of the company’s stock.

About Harmony Biosciences

Harmony Biosciences Holdings, Inc is a commercial‐stage biopharmaceutical company focused on developing and delivering therapies for people with rare neurological and endocrine diseases. Founded in 2017 and headquartered in Plymouth Meeting, Pennsylvania, Harmony Biosciences went public in 2020 and trades on the Nasdaq under the ticker HRMY. The company’s mission centers on identifying and advancing medicines that address critical unmet needs in patient populations underserved by existing treatments.

The company’s flagship product is WAKIX (pitolisant), the first and only histamine H3 receptor antagonist/inverse agonist approved by the U.S.